Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following table lists the number of home improvement loans approved by a finance company, along with the loan interest rate. Click the icon to

image text in transcribed

The following table lists the number of home improvement loans approved by a finance company, along with the loan interest rate. Click the icon to view the data table. a. Develop a regression forecast model using the interest rate (in \%) as the predictor (i.e., independent) variable. The regression model is Number of loans =+11 Interest rate. (Enter your responses rounded to two decimal places and include a minus sign if necessary.) b. If the interest rate is 11%, the bank should expect to make loans. (Enter your response rounded to the nearest whole number.) If the interest rate is 4.5%, the bank should expect to make loans. (Enter your response rounded to the nearest whole number.) The following table lists the number of home improvement loans approved by a finance company, along with the loan interest rate. Click the icon to view the data table. a. Develop a regression forecast model using the interest rate (in \%) as the predictor (i.e., independent) variable. The regression model is Number of loans =+11 Interest rate. (Enter your responses rounded to two decimal places and include a minus sign if necessary.) b. If the interest rate is 11%, the bank should expect to make loans. (Enter your response rounded to the nearest whole number.) If the interest rate is 4.5%, the bank should expect to make loans. (Enter your response rounded to the nearest whole number.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Banker To The World

Authors: William Rhodes

1st Edition

0071704256, 978-0071704250

More Books

Students also viewed these Finance questions